Meruelo told the Los Angeles Times that the deal was too highly leveraged and that he was asked to pay more than originally asked. All Rights Reserved. The fact that they are being sent to the Central Division starting in the 2020-21 season only fuels that chatter. By Craig Morgan | July 14, 2017 at 7:50 am UPDATED: July 14, 2017 at 5:06 pm (AP Photo/Ross D. Franklin) It appears that the Coyotes would be Meruelo's first sports-related purchase since his terminated bid to buy the Hawks. All NHL logos and marks and NHL team logos and marks as well as all other proprietary materials depicted herein are the property of the NHL and the respective NHL teams and may not be reproduced without the prior written consent of NHL Enterprises, L.P. Looking for a hotel during your stay? He can be reached at Your California Privacy Rights/Privacy Policy. There have been innumerable rumours of the Arizona Coyotes possible relocation. Subscribe to today. GLENDALE, AZ – The Arizona Coyotes announced today that former Coyotes Captain Shane Doan has been hired by the club to serve as its Chief Hockey Development Officer. According to a report from NHL insider John Shannon of Sportsnet, the Arizona Coyotes have a new majority owner, with current/past owner Andrew Barroway taking on a minority ownership stake. Arizona Coyotes undefined Alex Meruelo on Monday became majority owner of the Coyotes, making history in the process as the first Latino to have controlling interest of an NHL team. Fry, who played for … Alex supports a wide range of philanthropic causes and institutions across the United States. GLENDALE, Ariz. (AP) — Shane Doan is returning to the Arizona Coyotes. Andrew Barroway is the Coyotes' Minority Owner & Alternate Governor. New ownership for the Coyotes is on the horizon. Alex founded and oversees Meruelo Group LLC, which supports his still-growing family of companies across a variety of business sectors, including entertainment, gaming and hospitality, construction, real estate, banking, and food services. Extremely proud to have become the only Hispanic majority owner in the history of the National Hockey League, Alex looks forward to helping the Coyotes grow the team's already expansive community involvement in the Valley - and to bringing a Stanley Cup to the state of Arizona. Coyotes owner Alex Meruelo tapped his friend and business partner Xavier Gutierrez to run a team in a market in which 40% of the population identifies as Hispanic. He served as Arizona… “It was tough, it was really tough to go through that,” Coyotes co-owner Anthony LeBlanc told Burns and Gambo on Arizona Sports 98.7 FM Tuesday, speaking of … Those investments led Alex to expand into construction through Meruelo Enterprises, Inc., owner of six utility construction companies with deep roots in building major private and public construction projects throughout Southern California. The Arizona Coyotes are now officially under new ownership, and the new boss says he’s committed to keeping NHL hockey in Arizona.The closing of the transaction gives billionaire businessman Alex Meruelo controlling interest in the franchise from Andrew Barroway, who will keep a minority stake.The 55-year-old Meruelo is the owner of Meruelo Group, a Los Angeles-based Stay in the know. Alex and his wife have three children. Doan spent all 21 NHL seasons with the Coyotes, starting with the franchise's last season in Winnipeg before moving to the desert in 1996. New Coyotes owner Meruelo seeks financial sustainability, larger Hispanic fan base Fry and the Arizona Coyotes have been instrumental leaders in growing the game. The Coyotes announced Monday the longtime former captain has been hired as chief hockey development officer. Doan will serve as a strategic advisor to owner Alex Meruelo and general manager Bill Armstrong, supporting the business and hockey operations departments. Starting in the 2021–22 NHL season, the Coyotes are scheduled to return to the Central Division for the first time since the 1997-98 season when the Seattle Kraken joins the league. ... New owner Alex Meruelo is a billionaire and has owned the team over a year now. I look forward to helping hockey continue to thrive in the desert, and I am committed to providing our passionate fans, loyal partners and the entire State of Arizona with a team they can be proud of for years to come.”. Andrew Barroway is an American hedge fund manager. The NHL's Board of Governors on Wednesday approved Alex Meruelo as the Coyotes' new majority owner, with the hope that he can find a long-term arena solution and keep the team in Arizona. In October 2014, he agreed to purchase the 51% majority share of the Coyotes for $152.5 million, a franchise that was reportedly valued by Coyotes' president Anthony LeBlanc at $305 million. Andrew Barroway, the owner of the Arizona Coyotes, is looking to sell 49% of the National Hockey League team at a $500 million valuation, according to multiple sources. … He was also involved in a bid to purchase the Atlanta Hawks in 2011, but the deal did not go through. In the release, Meruelo thanked Barroway for his work with the Coyotes. The team played in a downtown arena to start play in 1996, where the Phoenix Suns called home. Richard Morin covers the Coyotes and Diamondbacks for azcentral sports. 1 guy Andrew Barroway is now a minority stakeholder. Alex Meruelo became the Majority Owner, Chairman, and Governor of the Arizona Coyotes on July 29, 2019. Mr. Barroway is the Managing Partner of Merion Investment Management LP, an event driven hedge fund that currently manages more than $1 Billion. Girls hockey in the state of Arizona has grown 53% over the last five years and 236% in the last decade, according to the Coyotes. It has had a couple of name changes, and is currently called Gila River arena. The chain opened 12 locations and exceeded $10 million in sales within five years of Meruelo's takeover. Enter Search Term. STEVE GOLDSTEIN: Ownership drama with the Arizona Coyotes is nothing new. Former majority owner Andrew Barroway retained a 5 percent minority stake and will remain with the club as an alternate governor. The Arizona Coyotes are a professional ice hockey team based in the Phoenix metropolitan area. Building further on his success, Alex assembled and developed a residential and commercial real estate portfolio with holdings throughout Southern California. His other business interests include the SAHARA Las Vegas Hotel and Casino, the Grand Sierra Resort and Casino in Reno, and a number of television and radio stations in Southern California. There is an owner … If no results appear, use Enter to do a full site search. Merion was founded in January 2009. Meruelo began his business career working for his father's tuxedo company before purchasing a failing California pizza restaurant. Shortly after graduating, Alex established La Pizza Loca, a fast food pizza business focused on the needs and unique tastes of the local Latino community. This changes everything in Arizona. The National Hockey League Board of Governors on Wednesday approved a bid by California billionaire Alex Meruelo to purchase a majority stake in the Arizona Coyotes … By Mike Ozanian Forbes Staff. Andrew Barroway is the Coyotes' Minority Owner & Alternate Governor. The Arizona Coyotes officially have a new majority owner. The Arizona Coyotes are nearing the final stages of a sale of the National Hockey League franchise. Alex Meruelo has officially acquired the Arizona Coyotes and hopes to turn the franchise into a winner. Doan will serve as a strategic advisor to owner Alex Meruelo and general manager Bill Armstrong, supporting the business and hockey operations departments. The Arizona Coyotes named Lyndsey Fry as their new radio analyst. Share . Subscribe to azcentral today. ALEX MERUELOOwner, Chairman & Governor, Arizona CoyotesPresident & CEO, Meruelo Group, LLC. Follow him on Twitter @ramorin_azc. … He rebranded it to cater to Latinos by offering toppings such as chorizo and jalapeños. Use arrows to navigate between autocomplete results. “Andy deserves credit for stabilizing the franchise and for growing the game of hockey in Arizona,” Meruelo said. The Meruelo Group has no outside investors, which makes Meruelo the sole owner of his various companies. Billionaire entrepreneur Alex Meruelo is the new owner of the Arizona Coyotes. Billionaire entrepreneur Alex Meruelo is in advanced stages of purchasing a majority share of the Coyotes, league sources confirmed to … The team first played at America West Arena in downtown Phoenix, before moving to Glendale's Gila River Arena in 2003. Coyotes owner Alex Meruelo and his family have partnered with Gila River Arena to pay part-time and hourly arena employees scheduled to work the team’s final eight home games. and last updated 7:21 PM, Jun 19, 2019 GLENDALE, AZ — The NHL Board of Governors has approved billionaire businessman Alex Meruelo's acquisition of the Arizona Coyotes. It is believed that Meruelo would be the first and only Latino owner in the NHL. Meruelo, 55, is a son of Cuban immigrants with a history of buying undervalued assets and holding onto them. An active investor, Alex currently sits on the board of Commercial Bank of California based in Irvine, California. Doan will report directly to Coyotes President & CEO Xavier Gutierrez and will serve as a strategic advisor to Owner, Chairman & Governor Alex Meruelo and … Jun 13, 2017. Barroway became the sole owner of the Arizona Coyotes in June of 2017. ANDREW BARROWAYMinority Owner & Alternate Governor. According to sources, the 55-year-old Meruelo purchased a 95 percent stake in the organization, a sale formally announced by the team on Monday. The most up-to-date breaking news for the Arizona Coyotes including highlights, roster, schedule, scores and archives. The Coyotes’ majority owner, Alex Meruelo, is a billionaire, twice over. The sale to billionaire Alex Meruelo has been completed, meaning former No. Barroway became the sole owner of the Arizona Coyotes in June of 2017. 7,700 talking about this. From a single location in Huntington Park, California, Alex grew La Pizza Loca into a string of company-owned and franchised pizza restaurants well known across the Southern California Hispanic community. In fact, it's been a consistent part of the organization's narrative almost since the team moved to the Valley from Winnipeg. She will become the fourth woman to fill that role for an NHL team. “I look forward to working with him in the future and want to thank him for his hard work and commitment to the team.”. He is the minority owner of the Arizona Coyotes hockey team in the National Hockey League.. GLENDALE, Ariz. (AP) — Shane Doan is returning to the Arizona Coyotes. Arizona Coyotes is a trademark of IceArizona Hockey Co LLC. Recent rumors have the Coyotes potentially moving to Houston under new owners, but nothing solid had actually been reported. A Q&A with Arizona Coyotes owner Andrew Barroway. In 1985, he received his Bachelor of Science degree from California State University, Long Beach. Barroway graduated from the University of Pennsylvania Law School in 1991. is the official Web site of the Arizona Coyotes. Meruelo could unlock opportunities in a metro Phoenix market that has a Hispanic population of more than 42 percent, according to the U.S. Census Bureau. Meruelo is expected to be formally introduced to the local media in a press conference on Thursday at Gila River Arena. Arizona Coyotes Owner Andrew Barroway Buys Out Partners For $240 Million. The Coyotes compete in the National Hockey League (NHL) as a member of the Pacific Division in the Western Conference. Later, Alex expanded further in the food services industry through both Fuji Food Products, Inc., a national food manufacturing company that produces a diverse range of food products for retail customers, and Fujisan Franchising Corp. which franchises a fresh, handcrafted sushi and Asian food kiosk concept to independent franchisees throughout the United States. The Arizona Coyotes will pay all part-time arena and team employees through the end of the previously scheduled NHL season. The Arizona Coyotes has a new owner -- and the National Hockey League has its first Hispanic majority owner in league history -- after Alex Meruelo purchased a … The son of Cuban immigrants, Meruelo is the only Hispanic individual to own a controlling interest in an NHL club. He served as the Coyotes' Majority Owner, Chairman and Governor from December 31, 2014 to July 29, 2019. AD Billionaire entrepreneur Alex Meruelo is the new owner of the Arizona Coyotes. Meruelo is also the founder of Meruelo Group, which as a construction and real estate development firm with a number of other assets, including several in the American Southwest. This is the riskiest sports deal I've seen in years. The Arizona Coyotes have named Xavier Gutierrez CEO and president, giving the Coyotes the only all-Latino owner-president tandem in NHL history. The Arizona Coyotes moved into their new arena in 2003. The talk has been that they could move to Houston. Born in New York City to immigrants from Cuba, Alex grew up in the Los Angeles area. “The Arizona Coyotes team is poised to do great things on and off the ice. Are you a sports fan? NHL, the NHL Shield, the word mark and image of the Stanley Cup and NHL Conference logos are registered trademarks of the National Hockey League. According to sources, the 55-year-old Meruelo purchased a … Copyright © 1999-2020 Arizona Coyotes, LLC and the National Hockey League. “This is an incredible moment for me and my entire family,” Meruelo said in a release. The Coyotes announced Monday the longtime former captain has been hired as chief hockey development officer.